2655 Ar-101 Gamaliel, AR 72537

Property Details for 2655 Ar-101

Year built

1970

Lot size

4.28 lot acres

Property type

Commercial real estate

Description

This exceptional turnkey resort opportunity on beautiful Lake Norfork in Gamaliel, Arkansas, presents a unique blend of business and residential living. Nestled on over 4 acres, the property boasts eight fully furnished and updated cabins, each offering unique charm and amenities. The resort includes a spacious, recently constructed (approximately 2021) three-bedroom, 2.5-bathroom owner's residence with office space and expansive decks, providing breathtaking lake views. Additional features include a private dock, covered pavilion, playground, community laundry facilities, a large shop for storage, ample parking, and an RV hookup. The property has a well-established online booking system, contributing to its consistent success. Extensive renovations were completed between 2020 and 2024. The resort's eight cabins range in size from 410 to 840 square feet, with total cabin square footage of 2,776 square feet and the owner's residence at approximately 1,800 square feet. The property's 2023 net operating income (NOI) was $67,071, representing a 7.9% capitalization rate. Projections for 2024 indicate a potential NOI of $86,437, or a 10.2% capitalization rate, incorporating estimated rental income from the owner's residence. Detailed financial information, including a complete profit and loss statement and supporting documentation, will be provided to qualified buyers upon execution of a non-disclosure agreement and receipt of an earnest money deposit. The property is being sold "as is," with the seller retaining possession of the residence for a negotiable period post-closing to facilitate a smooth transition. All fixtures, furnishings, supplies, and equipment (excluding specified personal items) are included in the sale. The seller will transfer all permits and leases to the buyer at closing. Parcel ID: 001-02677-005 (4.28 acres) and an additional 0.54-acre parcel containing the residence. Buyer to verify all information.